Chevron's Venezuelan Gambit: A Risky Bet on Stability and Profits Chevron is expanding its operations in Venezuela, a move that has raised questions about the Trump administration's latest effort to tap into the nation's vast oil reserves.
The partnership between the U. S.
government and North American Blue Energy Partners (NABEP) gives the Pentagon a 35% ownership stake in the new company, with the State Department holding an option to buy 20% of the oil produced at cost.